Party City, the popular retail chain specializing in party supplies, decorations, and costumes, has announced the closing of all of its stores, ending nearly 40 years in business.
Like many traditional brick-and-mortar retailers, Party City has faced numerous challenges in the past few years – the pandemic, the rise of online shopping, and supply chain shortages especially the global helium shortage. This led to them filing for Chapter 11 bankruptcy protection in January 2023, and now the company has made the difficult decision to close over 30 more locations across the United States.
Big Lots announced Thursday it was starting “going out of business” sales at all of its locations after a plan for a private equity firm to rescue the bankruptcy retailer failed.
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